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The Need for Different Classes of Macroeconomic Models (DSGEs). Blanchard

This is is my third piece on dynamic stochastic general equilibrium models (DSGEs). 

The first, a PIIE Policy Brief, was triggered by a project, led by David Vines, to assess how DSGEs had performed during the financial crisis (namely, badly) and how they could be improved. 

That brief went nearly viral (by the standards of blogs on DSGEs ☺).

Olivier Blanchard (PIIE)  January 12, 2017

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